United Rentals (URI) Raised to “Buy” at Bank of America

Bank of America upgraded shares of United Rentals (NYSE:URI) to a buy rating in a report published on Tuesday, December 19th. Bank of America currently has $195.00 target price on the construction company’s stock, up from their prior target price of $165.00.

Several other research firms have also commented on URI. Stifel Nicolaus reissued a buy rating and set a $171.00 price objective on shares of United Rentals in a research note on Thursday, December 14th. Barclays assumed coverage on shares of United Rentals in a research note on Tuesday, December 12th. They set an underweight rating and a $150.00 price objective on the stock. Buckingham Research assumed coverage on shares of United Rentals in a research note on Tuesday, November 21st. They set a neutral rating and a $154.00 price objective on the stock. KeyCorp reiterated a hold rating on shares of United Rentals in a research note on Friday, October 20th. Finally, Citigroup upped their target price on shares of United Rentals from $165.00 to $170.00 and gave the stock a buy rating in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $159.68.

Shares of United Rentals (NYSE:URI) traded up $6.79 during trading hours on Tuesday, reaching $179.99. 1,486,900 shares of the company were exchanged, compared to its average volume of 1,050,000. The stock has a market cap of $15,220.00, a PE ratio of 25.53, a PEG ratio of 0.74 and a beta of 2.67. United Rentals has a one year low of $100.62 and a one year high of $179.99. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.88 and a current ratio of 0.92.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.27. United Rentals had a net margin of 9.64% and a return on equity of 44.81%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company earned $2.58 earnings per share. United Rentals’s quarterly revenue was up 17.1% on a year-over-year basis. equities research analysts predict that United Rentals will post 10.52 EPS for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a share buyback program on Wednesday, October 18th that permits the company to repurchase $373.00 million in shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In related news, Director Donald C. Roof sold 757 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $159.80, for a total transaction of $120,968.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Singleton B. Mcallister sold 2,200 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $163.67, for a total transaction of $360,074.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,760 shares of company stock valued at $13,873,111. Corporate insiders own 1.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Profund Advisors LLC lifted its holdings in shares of United Rentals by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 2,256 shares of the construction company’s stock worth $254,000 after acquiring an additional 24 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of United Rentals by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,279 shares of the construction company’s stock worth $708,000 after acquiring an additional 25 shares during the last quarter. Bank of Hawaii lifted its holdings in shares of United Rentals by 0.3% in the 2nd quarter. Bank of Hawaii now owns 11,330 shares of the construction company’s stock worth $1,277,000 after acquiring an additional 30 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of United Rentals by 0.4% in the 2nd quarter. Stifel Financial Corp now owns 14,679 shares of the construction company’s stock worth $1,656,000 after acquiring an additional 64 shares during the last quarter. Finally, Kalos Management Inc. lifted its holdings in shares of United Rentals by 2.4% in the 2nd quarter. Kalos Management Inc. now owns 4,610 shares of the construction company’s stock worth $519,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.

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United Rentals Company Profile

United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.

Analyst Recommendations for United Rentals (NYSE:URI)

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